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News on Medial
Netflix confirms it’s cutting off Apple billing for grandfathered subscribers
The Verge
·
1y ago
Medial
Netflix has started removing longtime subscribers from their Apple iTunes billing plans in certain countries, requiring them to pay Netflix directly using a credit or debit card. This change affects members on the basic plan who were using iTunes payment, including users in the US and Canada. Previously, Netflix resisted using Apple's in-app subscription options due to the 30% cut Apple took. In 2018, Netflix stopped offering in-app subscriptions altogether. This move means higher prices for some subscribers or switching to an ad-supported plan.
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Netflix beats expectations on profit and subscribers
Economic Times
·
1y ago
Medial
Netflix reported strong earnings, with a profit of $2.3 billion and gaining 9.3 million subscribers in the last quarter. The company's heavy investment in content paid off as it converted free users to paid subscribers, thanks to a crackdown on password sharing. However, Netflix shares dipped over 4% in after-market trading as sales in the current quarter may be lower than expected. Despite this, Netflix remains focused on expanding its ad-supported tier and released a lineup of TV shows and films for 2024, including an adaptation of the bestselling Chinese trilogy "3 Body Problem." TikTok and YouTube have helped increase fandom and identify talented storytellers for Netflix.
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Watching Netflix without ads may cost you more as cheapest Basic plan gets phased out
Business Insider
·
1y ago
Medial
Netflix is planning to retire its $11.99 per month Basic subscription plan in some countries. The plan is currently available only to existing users, as new or returning users have been blocked from signing up for the plan since July 2023 in the US and UK. Netflix aims to phase out the plan in the UK and Canada in the second quarter of this year. This move could result in a de-facto price increase for users, as the next cheapest ad-free plan costs $15.49 per month. Netflix reported a record fourth quarter with 13.1 million new subscribers and 260 million total subscribers globally. Its closest competitor, Disney+, has 150 million subscribers.
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Netflix backs out of plan to develop blockbuster videogame
Livemint
·
9m ago
Medial
Netflix has decided to shift its focus away from developing high-end video games and will instead concentrate on producing casual games. The company recently cancelled its own Triple-A title, laying off around 30 employees in the process. Triple-A games are large, complex, and expensive to produce. Netflix had been working on a multiplayer shooter game, which was intended to be played on smartphones, tablets, TVs, or personal computers. The streaming giant will still consider featuring Triple-A games from third parties on its platform. Netflix aims to keep users engaged between seasons of their favorite shows and attract new subscribers with gaming content.
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Apple eyes bigger slice of India's streaming market with Airtel deal
Economic Times
·
11m ago
Medial
Apple has partnered with India's Bharti Airtel to offer the telecom company's premium customers free access to its music and video streaming services. This move allows Apple to tap into the vast Indian market, which is dominated by competitors like Netflix, Amazon Prime Video, Disney+ Hotstar, and JioCinema. Apple TV+ will be bundled with Airtel's WiFi and Postpaid plans, while Apple Music will be available to Airtel's Wynk music app users. The deal aims to expand Apple's digital services reach in India, where Airtel is the second-largest telecom operator with 281 million subscribers.
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Netflix Planning Another Season of Price Hikes, Analysts Say
Gizmodo
·
1y ago
Medial
Wall Street analysts are predicting another price increase for Netflix's streaming service in 2024. UBS analyst John Hodulik expects rate hikes this year, which could lead to a 15% revenue growth for Netflix. The company's recent crackdown on password sharing and the elimination of its Basic plan in certain regions underscores its mission to maximize subscriber value. Despite previous price increases, Netflix has not seen a significant loss in subscribers, and analysts believe it will be able to retain subscribers more effectively than other streaming services due to its extensive library and dedicated fan base.
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No reason Netflix can’t hit 100 million subscribers in India: Ted Sarandos
Livemint
·
1y ago
Medial
Co-CEO of Netflix, Ted Sarandos, believes that Netflix has achieved success in the Indian market, with remarkable growth in subscribers and engagement. He is committed to investing in India and sees reaching 100 million subscribers as achievable. Sarandos acknowledges the low cost of TV in India but believes that the shift to streaming is inevitable due to the greater value and control it offers. He also discusses Netflix's pricing strategy, plans for an ad-based model, competition with YouTube, and the importance of localizing content.
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Netflix adds 13.1 million subscribers, tops revenue estimates as membership push gains steam
CNBC
·
1y ago
Medial
Netflix reported stronger-than-expected subscriber growth, adding 13.1 million subscribers in the fourth quarter, bringing the total to a record 260.8 million paid subscribers. This growth exceeded Wall Street's expectations and was attributed to the company's efforts to build its ad-supported service and crack down on password sharing. Netflix also reported higher earnings and revenue for the quarter, and increased its 2024 full-year operating margin forecast to 24%. The company aims to continue investing in its content offering despite the consolidation happening in the entertainment industry.
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Netflix will show generative AI ads midway through streams in 2026
Arstechnica
·
2m ago
Medial
Netflix plans to introduce generative AI ads during streams in 2026 as part of its strategy to boost ad revenue. At its advertising event, Netflix highlighted the effectiveness of mid-roll and pause ads, which it has been testing since mid-2024. The ad-supported tier launched in 2022 and has grown to 94 million subscribers, with ad formats poised for global expansion. This move aligns Netflix with other streaming platforms adopting innovative advertising strategies.
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After adding its own billing option on iOS, Apple asks Patreon to move it to an external browser
TechCrunch
·
2m ago
Medial
Patreon is adjusting its iOS app to comply with Apple’s guidelines by moving web-based purchases to an external browser, avoiding Apple’s 30% commission on in-app purchases. This follows a court ruling supporting external payments without Apple commissions. Patreon can now support various billing models, benefiting creators who use them. Apple removed a deadline for subscription billing transition, giving creators more flexibility. The update enhances payment options for U.S. users but requires more steps.
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A comprehensive list of 2023 & 2024 tech layoffs
TechCrunch
·
1y ago
Medial
2023 has seen significant tech layoffs across various sectors, including major companies like Google, Amazon, and Microsoft. Layoffs have been driven by market conditions and a need for companies to pivot from growth to efficiency. Some notable layoffs include Fisker laying off 15% of its workforce, EA cutting 5% of its workforce, and Apple cutting hundreds of employees from its autonomous electric car project. The overall impact of these layoffs on innovation and the job market remains to be seen.
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